Migrants from Kyrgyzstan increased remittances home in January

389 views Economy 0

In January 2024, the inflow of money transfers to Kyrgyzstan amounted to $259 million. These data are provided by the National Bank of Kyrgyzstan.

This is 55.6%, or $92.6 million, more than in January 2023.

Compared to December, the indicator increased by only $200 thousand. The majority of money transfers came from Russia - $244.1 million. From other countries, $7.9 million was transferred to Kyrgyzstan, and $5.2 million came from the USA.

In January, there was also an outflow of funds - $56.4 million. The indicator decreased by $600 thousand over the month. Unlike January 2023, it was $1.6 million less. The majority of money was sent to Russia ($52.8 million).

The net inflow of money transfers in January 2024 to Kyrgyzstan amounted to $202.7 million.

This is $94.3 million, or 1.9 times, more than the indicator in 2022.

By the end of last year, the volume of money transfers to the country amounted to $2 billion 706.1 million. From Kyrgyzstan to other countries, $561.2 million was transferred. The net inflow was $2 billion 144.9 million.

By the end of 2023, a total of $2 billion 706.1 million was transferred to Kyrgyzstan. This is 12.3%, or $380.4 million, less than in 2022.

CentralasianLIGHT.org

March 18, 2024